The dispute originated from a partnership for an SRA project between Ankhim Holdings Pvt. Ltd. (appellants) and Zaveri Construction Pvt. Ltd. (respondent). An arbitrator was initially appointed by the Bombay High Court. Subsequently, the NCLT initiated Corporate Insolvency Resolution Process (CIRP) against the respondent, imposing a moratorium under Section 14 of the IBC. Despite the moratorium, the Arbitral Tribunal continued proceedings and passed orders allowing the appellants to sell certain flats. Later, the NCLT initiated liquidation proceedings against the respondent. The High Court, while appointing a substitute arbitrator, declared the arbitral proceedings held during the moratorium period (17.03.2022 to 25.08.2022) as a nullity, which the appellants
…Appellants (Ankhim Holdings Pvt. Ltd. & Anr.) and Respondent (Zaveri Construction Pvt. Ltd.) formed a partnership firm "M/s Anmol Alliance" to develop an SRA project.
Disputes arose, leading appellants to file Commercial Arbitration Petition No.347/2019 under Section 9 of the Arbitration and Conciliation Act, 1996.
On 09.07.2019, the Bombay High Court accepted consent terms and appointed Hon'ble Mr. Justice J.N. Patel as the Arbitrator.
On 26.09.2019, the NCLT Mumbai admitted the respondent to Corporate Insolvency Resolution Process (CIRP) and imposed a moratorium under Section 14 of the IBC, 2016.
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Bombay High Court passed an order in…
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The dispute originated from a partnership for an SRA project between Ankhim Holdings Pvt. Ltd. (appellants) and Zaveri Construction Pvt. Ltd. (respondent). An arbitrator was initially appointed by the Bombay High Court. Subsequently, the NCLT initiated Corporate Insolvency Resolution Process (CIRP) against the respondent, imposing a moratorium under Section 14 of the IBC. Despite the moratorium, the Arbitral Tribunal continued proceedings and passed orders allowing the appellants to sell certain flats. Later, the NCLT initiated liquidation proceedings against the respondent. The High Court, while appointing a substitute arbitrator, declared the arbitral proceedings held during the moratorium period (17.03.2022 to 25.08.2022) as a nullity, which the appellants
…Appellants (Ankhim Holdings Pvt. Ltd. & Anr.) and Respondent (Zaveri Construction Pvt. Ltd.) formed a partnership firm "M/s Anmol Alliance" to develop an SRA project.
Disputes arose, leading appellants to file Commercial Arbitration Petition No.347/2019 under Section 9 of the Arbitration and Conciliation Act, 1996.
On 09.07.2019, the Bombay High Court accepted consent terms and appointed Hon'ble Mr. Justice J.N. Patel as the Arbitrator.
On 26.09.2019, the NCLT Mumbai admitted the respondent to Corporate Insolvency Resolution Process (CIRP) and imposed a moratorium under Section 14 of the IBC, 2016.
…Bombay High Court passed an order in…
NCLT Mumbai passed an order in Company…